After rumors on Friday that LG were considering withdrawing from the plasma HDTV business, LG have been quick to quash speculation. According to the company's press release, LG will not only continue to make plasma sets but are aiming to increase their market share, focusing on 50-inch and larger sets where plasma still ousts LCD and demand is, apparently, higher.
Unlike Pioneer, who disappointed Kuro zealots with the news that they would be immediately discontinuing plasma development, LG sees the technology as still relevant. They point to their core plasma and PDP module processes as being a strength that lifts them above rivals.
LG aim to sell 3m plasma HDTVs in 2009, equivalent to 19-percent of the market, using new connectivity options like Bluetooth, together with frameless designs, to pull in well-heeled punters. The company has also converted their obsolete plasma manufacturing lines to solar panel production.
LG REAFFIRMS COMMITMENT TO PLASMA BUSINESS
Seoul, Korea, February 27, 2009—LG Electronics is one of the world's leading producers of plasma display panels (PDPs) and plasma TVs.
As a founding member of the Plasma Display Coalition, we are committed to the plasma business and we believe plasma TVs are an important segment in the flat panel display sector. In addition, unlike some current and former plasma TV players, LG possesses core technologies for plasma TVs and PDP modules, giving us unique advantages in the market. We have invested heavily to strengthen the LG brand in this segment and will continue to do so.
The demand for plasma TVs is still growing. Based on this, we have set a goal to sell 3 million plasma TVs in 2009, giving us 19 percent of the total plasma TV market. We will focus primarily on plasma TVs 50 inches and larger, where demand is highest.
To help us achieve our goal for this year, LG is introducing new plasma TVs with advanced features like wireless Bluetooth connectivity and Full HD resolution, along with innovative frameless designs. Additionally, LG is initiating and expanding relationships with both premium retailers and mass merchandisers through proactive collaboration in promotional activities for plasma TVs.
To make our plasma production even more efficient, we shifted obsolete production lines over to solar panel manufacturing in 2008, and increased capacity of our more efficient lines. In 2009, we integrated our PDP module and plasma TV businesses to leverage vertical efficiencies between sets and components and create a stronger supply chain.
LG will continue to develop a wide range of plasma displays fully accommodating customer needs and wants.